Question

find the compound interest for ₹4800 for 2 years at 8% compounded annually. ​

Answer 1

Answer:

Compound interest is Rs 798.72

and amount with Compound interest is Rs 5598.72

Step-by-step explanation:

Given:- Principal amount(P) = ₹ 4800

Time (T) = 2 years

Rate (R) = 8%

To find:- Compound Interest

Solution :-

As we know,

Compund Interest Amount =

$p(1 + \frac{r}{100}) {}^{t}$

Putting values,

$4800(1 + \frac{8}{100} ) {}^{2}$

$4800(1.08) {}^{2}$

$4800 \times 1.1664$

$= 5598.72$

Hence, the amount at Compound interest is Rs 5598.72

The Compound interest here is 798.72 i.e. Amount-Principal (5598.72 - 4800)